Business sentiment among big Japanese manufacturers has sunk to a four-year low, providing more evidence of a worsening economic outlook and bolstering speculation the central bank may cut rates later in the year. Worries about the global credit crunch, rising raw material costs, fragile share prices and a stronger yen contributed to weaker confidence, and the outlook for the coming quarter was even bleaker, the Bank of Japan (BOJ) tankan survey showed. [ID:nT32965] But a purchasing managers' index (PMI) on Chinese manufacturers rose to its highest reading in almost a year in March despite concerns about the global economy thanks to a surge in output and new orders. [ID:nPEK52350]

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